Engagements

Listed below are certain notable Engagements.  All Engagements are strictly confidential. 

Imported Leather Furniture Distributor

 

  • Outsourced CFO
  • Evaluated and implemented “best in class” ERP and integrated Warehouse Inventory Management system, replacing outdated QuickBooks and Fishbowl software
  • Implemented Independent Sales Representative Agreements—meanwhile, eliminating “special deals” and bad precedents, resulting in standardized commission reporting system, and substantially improving contribution margins
  • Re-negotiated previous “bad deals” with independent contractors and certain vendors, resulting in substantial cost savings
  • Implemented strong, internal controls replacing non-existent procedures with increased productivity and no extra expenses
  • Shut-down dormant entities and eliminated double-expenses
  • Re-negotiated Factoring Agreement, resulting in substantial savings
  • Eliminated excess fixed costs, primarily certain executive management
  • Evaluated and negotiated many alleged design patent infringements
  • Re-did and made compliant all labeling requirements

 

Imported Start-Up Case Goods Furniture Distributor

 

  • Outsourced CFO
  • Implemented strong, internal controls replacing non-existent procedures with increased productivity and no extra expenses
  • Switched from “cash” to “accrual” financial reporting system
  • Improved contribution margins through selective price increases and/or reductive costs
  • Re-negotiated existing Factoring Agreement, resulting in substantial savings.
  • Switched Factors, resulting in substantial savings and increased borrowing capabilities
  • Facilitated the sale to a larger imported Distributor

 

Imported Start-Up Dining Room Furniture Distributor

 

  • Prepared the initial study and proposal for setting up a United States subsidiary of a foreign-based Parent Company
  • Outsourced CFO and served on Board of Directors
  • Established initial business entity in United States
  • Negotiated first-ever Factoring Agreement, with great deal for a start-up.
  • Implemented financial reporting system, and helped Foreign-based parent company reconcile reporting differences between US GAAP and Parent Company’s based GAAP
  • Prepared first-ever financial forecasts, cash flow projections and budget
  • Set-up labeling requirements with foreign vendors (never sold into the United States or were labeling incorrectly) for distribution in United States and Canada

 

 

Imported Motion Furniture Distributor

 

  • Outsourced CFO
  • Eliminated unprofitable “prepaid trucking” operation
  • Re-negotiated existing Factoring Agreement, with significant savings and increased borrowing capability
  • Prepared and implemented Distribution Agreement for specific geographic region where existing distribution was basically non-existent
  • Improved warehouse inventory system, negotiated cost savings and integrated inventory balances with financial reporting software
  • Reviewed and advised on several alleged design and utility patent infringements
  • Reduced fixed costs with selective changes.
  • Improved contribution margin through selective price increases
  • Evaluated proposed LOI (Letters of Intent) from several prospective Buyers

 

Imported Upholstered Furniture Distributor

 

  • Reviewed and rejected expensive hardware/software selection
  • Evaluated alternative “best in class” ERP and integrated Warehouse Inventory Management Systems

 

Imported Casual Dining Room Distributor

 

  • Evaluated and facilitated the sale of selective assets to Buyer, and negotiated Building lease to Buyer, establishing a East Coast distribution warehouse

 

Domestic High-End Upholstery Manufacturer

 

  • Implemented system accounting for Factoring Agreement chargebacks with current general ledger system, reducing manual “double entry”, eliminating many spreadsheets and expediting month-end closing.  The client had a preliminary proposal of about $25,000 from their general ledger system provider.  I substantially beat this proposal and provided a better alternative too.

 

Home Furnishings Licensor

  • First-time venture into wholesale licensing agreement for iconic, exclusive brand
  • Prepared initial proposal for developing a long-tem licensing agreement of comprehensive home furnishings collections with multiple licensees

 

Private Equity Groups

 

  • Prepared expert, insider analysis of many acquisition opportunities
  • Evaluated branding identification within different price point segments
  • Retained as expert industry advisor for many private equity groups

Domestic Publicly-Held Holding Company

  • Key member of IPO team
  • Headed-up, prepared and evaluated all Acquisition Targets.

Domestic High-End Upholstery Manufacturer

  • Served on Board of Directors
  • Recommended and facilitated spin-off and sale of business segment to unrelated entity
  • Evaluated numerous strategic financing and buyer alternatives and options
  • Assisted with transfer of private label manufacturing segment to other suppliers
  • Assisted in sale of certain assets 

Domestic Low-End Upholstery Manufacturer

  • Revised costing methodology, resulting in effective, accurate procedure tied-to financial statements
  • Exited extremely unprofitable "cut and sewn kits" operation provided to another domestic manufacturer

Domestic High-End Occasional Manufacturer

  • Outsourced CFO/COO
  • Substantially reduced "top-heavy" senior executive management salaries
  • Evaluated numerous financing alternatives and strategies
  • Aligned all fixed costs with shrinking sales volume

Imported Low-End Bedroom Furniture Distributor

  • Evaluated and "shopped" numerous financing alternatives to replace extremely "bad contract"
  • Raised pricing on low contribution margin products

Domestic Wood Products Manufacturer

  • Reviewed substantially high valuation by exclusive broker
  • Broker rejected by assistance
  • After no sale at high valuation by impatient Seller, and exclusive sell rights expiring, was contacted directly by broker, resulting in more realistic valuation, and ultimately co-brokered transaction to Seller

Technology Solution Providers

  • Used as industry expert by many leading software solution providers
  • Have attended many in-depth training workhops and webinars.  Intimately familiar and have solved "unique industry" issues.  Many of my proposals have been incorporated into software specifications.
  • Authored or co-authored numerous articles on using software to solve "unique industry" solutions
  • Have strong referral partner relationships with many major ERP, DRP, Inventory Management, 3PL, Finance/Accounting, Sales Representatives, EDI, B2B and Travel Expense software solution providers
  • No conflicts-of-interest

Domestic Wood Products Manufacturer

  • Represented 49% stockholder in proposed sale to independent buyer.  Other major stockholder owned 49%, with 2% to non-family member.

Home Furnishings Retailer

  • Large retailer with dedicated space to branded supplier wanted a private-label line.  I designed and implemented the strategy for selection of multiple suppliers, provided RFP, did quality control inspection audits and helped launched the private-label line.

Other Solution Providers

  • Have extensive relationships with many payroll providers, retirement, estate and succession planners, website designers, social media experts and insurance agents/brokers.  I have successfuly settled three major business interruption claims, one to the limit of the policy.  Because of my extensive relationships, I'm able to negotiate the best price and service, passing these savings onto many clients.

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